00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Affinity Partners, the fund tied to Trump's son-in-law Jared Kushner,
00:06has exited Paramount's bid for Warner Brothers' discovery, according to Axios.
00:11The move comes ahead of an expected Warner Brothers board decision
00:14to reject Paramount's $30 per share all-cash offer.
00:18Board members had raised concerns about whether the deal could close
00:21if one of Paramount's funding partners withdrew.
00:24Affinity said it stepped back due to changed investment dynamics
00:27while still supporting the strategic rationale of Paramount's offer.
00:31Paramount's bid began at $19 per share with cash and stock
00:34before shifting to cash-only offers.
00:38The Warner Brothers board faces a December 22nd deadline to respond,
00:42though a decision may come sooner.
00:43For all things money, visit Benzinga.com.
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